Dynamic optimization problems cover a large class of problems in theoretical and applied economics. A simple iterative algorithm with fast convergence is proposed. It is demonstrated that the algorithm in a few steps produce excellent analytic (closed form) approximations including error bounds...

This paper deals with the use of differential equations and finite difference methods for solving several problems in the field of Economics and Business Administration. Economics usually needs to study the evolution of the values which are taken by a given variable in different moments. If the...

Die moderne Volkswirtschaftslehre wirkt auf andere Wissenschaften, auf die Gesellschaft und die Politik ein. Im Kontext dazu wird in dem Paper das disziplinäre Selbstverständnis von Ökonominnen und Ökonomen herausgearbeitet, wie es den wichtigsten Lehrbüchern des Faches inhärent ist....

This paper incorporates aspects of humans' evolved cognition into a formal model of cultural evolution and scrutinizes their interactions with population-level processes. It is shown how the biased transmission of different kinds of behavior via cultural learning processes influences agents'...

The picture fuzzy set (PFS) is a powerful tool to collect and handle large amounts of uncertain assess information in a new light. In this study, we explore some distance measures for the PFSs and propose Picture fuzzy ordered weighted distance measure and Picture fuzzy hybrid weighted distance...

This paper incorporates aspects of humans’ evolved cognition into a formal model of culturalevolution and scrutinizes their interactions with population-level processes. It is shown how thebiased transmission of different kinds of behavior via cultural learning processes influencesagents’...

This short review presents a selected history of the mutual fertilization between physics and economics, from Isaac Newton and Adam Smith to the present. The fundamentally different perspectives embraced in theories developed in financial economics compared with physics are dissected with the...

Spanish Abstract: La modelación macroeconómica está bajo intenso escrutinio desde la gran crisis financiera, que dejó al descubierto los graves defectos de la metodología utilizada para entender la economía en su conjunto. Se critican los supuestos empleados en los modelos dominantes, en...

In this paper, a method to implement K-Y protocol using Distributed Consensus is discussed. Firstly, the various available methods are discussed. Then, Proof-of-Sovereignty (PoSv) is proposed. Its mechanism is deliberated and its advantages are described vis-a-vis other methods of distributed...

Macroeconomic modelling has been under intense scrutiny since the Great Financial Crisis, when serious shortcomings were exposed in the methodology used to understand the economy as a whole. Criticism has been leveled at the assumptions employed in the dominant models, particularly that economic...